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BASSARI RESOURCES LIMITED

ASX: BSR

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Bassari Resources Limited is an Australian listed company focused on discovering multimillion ounce gold deposits in the Birimian gold belt in Senegal, West Africa. We have selected Senegal primarily for what we believe is the great potential of its under explored Birimian greenstone gold belt which overlays into the bordering countries of Mali and Guinea.

The Bassari permits adjoin each other and cover a large area of over 1,000 km2, located in the Birimian belt. The permits are centrally located, and in close proximity to recent discoveries of major gold deposits, including Sadiola (8.6 million oz), Loulo (11.35 million oz), Yatela (1.38 million oz), Massawa (3.5 million oz) and Sabodala (3.5 million oz).

In addition to these proven deposits other major exploration companies such as Oromin Explorations Ltd (a Canadian listed miner), Randgold Inc. and Etruscan Resources Inc. have reported gold discoveries in permit areas immediately to the North and East of the Bassari permit areas.

Significant exploration funds have been expended on our 3 gold permits (Moura, Sambarabougou, and Bounsankoba) by previous exploration groups, such as the United Nations, the French Government (BRGM) and a number of private exploration companies and by Bassari Resources Senegal S.A.R.L. (a fully owned subsidiary of Bassari Resources Limited).

Bassari’s primary objective is to further progress exploration and resource definition within the permit areas in order to identify mineral (primarily gold) deposits. The Bassari executive team has a wealth of experience and success working in Senegal and West Africa.

Moura

The Moura permit covers a very prospective area of the Diale series of the Birrimian Belt along the structural shear zone contiguous with the large Sadiola gold operation in Mali, approximately 60 km along the Senegal Mali Shear Zone (SMSZ).

Moura has been subject to exploration by the United Nations, the French Government (BRGM) and a number of private mining groups, including Bassari Resources Senegal. BRGM had identified 30 gold anomalies for follow up exploration. All of these anomalies have been located by Bassari Resources Senegal and a detailed sampling program is underway. Infill sampling by Bassari Resources Senegal geologists has identified at least 3 extensive NE-SW anomalous zones, centred around Benajiggi (4 km long). Konkoutou (4km long) and Yorova (1.5 km long and open to the north).

A further 3 anomalous shear zones have also been discovered by Bassari geologists in the Moura permit which warrant major exploration work. With 5 significant targets identified plus numerous other anomalies confirmed, Moura is considered a highly prospective permit for detailed exploration.

Sambarabougou

The Sambarabougou permit is located within the Palaeoproterozoic Birimian volcano-sedimentary sequences and the intrusives of the Diale Series. The Diale Series lithologies commonly comprise chlorite-sericite schists and phyllites derived from the metamorphism of greywackes and argillaceous sediments. The south eastern portion of the permit is underlain by the Eburnean Saraya Granite.

The Sambarabougou permit adjoins the Moura permit to the N-E. Three anomalous shear zones have been identified by Bassari geologists. One major East-West structure runs through the Moura and Sambarabougou permit and through the major gold project of Loulo/Yalea (combined 11.35 million ounces) onto Sitakili (a newly discovered porphyry gold deposit in the east). To the north-west this structure continues through to the Sabodala permit just south of the Sabodala gold deposit. This structure is deemed highly prospective by Bassari geologists who have commenced a sampling program to define drilling targets. Assays to date have shown this E-W shear zone to be anomalous which warrants detailed sampling and exploration.

Sambarabougou also contains the major alluvial gold area of Douta as well as numerous other alluvial areas being mined by local miners (orpayeurs). Most of these stream sediment areas are located along the western margin of the permit, about 30 km in length. The potential for larger alluvial resources at the Douta Prospect is considerable as the primary catchment area known to be mineralised is at least 5 km long, and the entire widths of the drainages (up to 300m) have yet to be fully assessed. Gold grains and small nuggets observed are mostly angular, suggesting that the primary gold source is in close proximity to the alluvial deposits. Further assessing of the alluvial potential of Douta is considered an immediate priority for Bassari.

The Company has defined a 25,000 oz resource and built a 200TPH alluvial plant.

The Douta Alluvial Gold Project was officially opened by the Senegal Minister of Mines and Geology, Mr Abdoulaye Balde, on 7 December 2010. Mining of the alluvial gravels has commenced within Block A with plans to move into higher grade Block B during December. Operator training is being undertaken on day shift to accommodate the ramp up phase where operations will move to double shift basis. Processing plant throughput rates are increasing steadily with design throughput rates of 200 TPH being achieved more consistently. Feed gravels are transitioning from commissioning gravels from low grade terraces outside resource blocks to gravels sourced from Block A.

Bounsankoba

The Bounsankoba permit adjoins the Sambarabougou permit. An exploration program was conducted by Hansa Geomin Consulting (HGMC) from 1996 to 1998, including geological mapping, soil geochemistry, geophysics (airborne and ground surveys) and saprolite geochemistry.

The Bounsankoba property is located in the early Proterozoic “Kenieba Inlier” in the so-called “super group” of Dialle-Dalema. The Dialle series are predominantly composed of meta-sediments-greywackes, sandstones and pelites. The inlier is crossed by two major structural features: the ASM (Accident Senegalo-malien) described by Bassot and Dommanget (1986) running north south; and the main transcurrent zone (MTZ) a major shear zone described by Ledru (1991), running NorthEast – Southwest within the metasediments along the contact with the Mako supergroup (predominantly metavolcanics).

The gold mineralisation on the Bounsankoba permit has several characteristics with meso thermal gold deposits and a detailed exploration program is underway to further develop Bassari’s interpretation of the geology of the Bounsankoba permit.

Mine For

gold

Location of operation(s)

Senegal

Address

Level 17, 500 Collins St
MELBOURNE, VIC, AUSTRALIA

Phone

(61 3) 9629 9925

Email

Website


Last Updated

21/04/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.